Oculis (OCS) Q2 2026 earnings summary

Executive summary

• Advanced Privosegtor as lead late-stage asset in neuro-ophthalmology, with PIONEER-1 trial progressing and positive FDA feedback for expansion into acute MS relapses.

• Enrollment in Licaminlimab PREDICT-1 genotype-based trial for dry eye disease surpassed 45%, with all sites activated and topline results expected around year-end.

• Strong cash position of $282.3 million as of June 30, 2026, providing runway into 2H 2029.

Financial highlights

• Cash, cash equivalents, and short-term investments increased to $282.3 million from $268.7 million at year-end 2025, driven by share sales offset by operating expenses.

• Research and development expenses were $19.3 million for Q2 2026, up from $18.1 million in Q2 2025.

• General and administrative expenses rose to $10.9 million from $7.4 million year-over-year.

• Net loss for the first half of 2026 was $49.3 million, an improvement from $67.9 million in the prior year period, mainly due to fair value gain on warrant liabilities and favorable FX.

• Basic and diluted loss per share was $0.65 for the six months ended June 30, 2026, compared to $1.16 in the prior year.

Outlook and guidance

• IND submission for Privosegtor in acute MS relapses planned for Q4 2026.

• Topline results for Licaminlimab PREDICT-1 trial expected around year-end 2026.

• Cash runway expected to last into the second half of 2029.